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Omnicare, PharMerica will share information(2)

Wed, 10/26/2011 - 3:46pm
The Associated Press

PharMerica Corp. and Omnicare Inc. said Wednesday they have agreed to share information to help determine if antitrust regulators would oppose Omnicare's acquisition of PharMerica.

Omnicare has offered to buy PharMerica for $15 per share and started a tender offer in September. PharMerica opposes the deal, saying the price is too low and that regulators would not allow the combination. The companies have agreed to share confidential information to get a better idea of the chances a deal would be approved.

The Federal Trade Commission is evaluating the offer and has asked for additional information from Omnicare. The Covington, Ky., company went public with its bid in August.

Omnicare stock rose 31 cents to $27.49 Wednesday, and shares picked up 60 cents to $28.09 aftermarket. Shares of Louisville, Ky.-based PharMerica rose 15 cents to $14.66 during the day and gained 25 cents to $14.91 in aftermarket trading.

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